Supply is still key to Victoria's Housing Market
In March 2024, Victoria Real Estate Board saw 588 property sales, slightly down from March 2023 but up 25.1% from February 2024. Condo sales dropped by 10.2%, while single-family home sales rose by 1.8% compared to March 2023. Inventory increased by 12%, boosting market health and buyer/seller confidence. The MLS® HPI benchmark values increased: single-family homes by 1.7% to $1,279,300 and condos by 3.3% to $567,300 in March 2024. The importance of inventory in sustaining market health and advises buyers and sellers to consult local realtors for market insights.
Data from vreb stats release can be found here: